India Investment Property

Tata Consultancy Services (TCS), India’s leading software exporter, pronounced that it has reserved a capital expenditure plan of One thousand nine hundred crore rupees for the existing fiscal (2008-09).
In an pronouncement, the company said that the capex is 35.7% higher than the last year’s capex of Rs 14 billion.
Mr. S Mahalingam, Chief Financial Officer and Executive Director, TCS, stated that out of the total amount, around One thousand three hundred crore rupees would be invested in physical infrastructure, which includes buildings and real estate whereas Six hundred crore rupees will be used for developing technology.
Mr. Mahalingam also said that the company has embarked on a sketch to add up around Thirty thousand seats in the country that clarifies the higher capex spend for the year.
Despite the consequences of the sub-prime crisis in the US, TCS sees a strong order book, with visibility of big contracts across different geographies.
The company will be adding seats in both tier-1 and tier-2 cities. This exercise would be undertaken in cities including Mumbai, Chennai, Hyderabad and Kolkata.